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Posted on May 18, 2024

A person inherited $ 2 6 0 0 0 and invests it immediately at 1 0 . 7 5 % compounded monthly. The person decides

A person inherited $

26000

and invests it immediately at

10.75 %

compounded monthly. The person decides to quit his

/

her job and withdraws $

2000

at the end of each month for as long as possible.

What is the amount of the smaller concluding withdrawal at the end of the next month?

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